Orthofix Medical (NASDAQ:OFIX) Upgraded to “Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Orthofix Medical (NASDAQ:OFIX) from a hold rating to a buy rating in a research note published on Friday, Marketbeat reports. Stifel Nicolaus currently has $24.00 price target on the medical device company’s stock, up from their previous price target of $18.00.

Orthofix Medical Price Performance

OFIX stock traded up $1.19 during mid-day trading on Friday, reaching $19.41. 673,214 shares of the company traded hands, compared to its average volume of 220,470. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.48 and a quick ratio of 1.13. The company has a market capitalization of $740.88 million, a P/E ratio of -6.08 and a beta of 1.05. Orthofix Medical has a 52-week low of $9.57 and a 52-week high of $19.79. The company has a fifty day moving average price of $16.24 and a 200-day moving average price of $15.27.

Orthofix Medical (NASDAQ:OFIX) last posted its earnings results on Tuesday, August 6th. The medical device company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.58). The company had revenue of $198.62 million for the quarter, compared to analysts’ expectations of $195.75 million. Orthofix Medical had a negative net margin of 15.61% and a negative return on equity of 20.68%. As a group, analysts anticipate that Orthofix Medical will post -2.13 earnings per share for the current year.

Institutional Trading of Orthofix Medical

A number of large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Orthofix Medical by 3.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,957 shares of the medical device company’s stock valued at $479,000 after acquiring an additional 1,236 shares during the last quarter. AQR Capital Management LLC lifted its position in Orthofix Medical by 4.4% in the 2nd quarter. AQR Capital Management LLC now owns 31,863 shares of the medical device company’s stock worth $423,000 after buying an additional 1,336 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Orthofix Medical by 25.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,435 shares of the medical device company’s stock worth $125,000 after buying an additional 1,919 shares during the last quarter. nVerses Capital LLC bought a new stake in Orthofix Medical in the 2nd quarter worth approximately $27,000. Finally, Victory Capital Management Inc. lifted its position in Orthofix Medical by 3.3% in the 3rd quarter. Victory Capital Management Inc. now owns 64,807 shares of the medical device company’s stock worth $1,012,000 after buying an additional 2,074 shares during the last quarter. Institutional investors own 89.76% of the company’s stock.

About Orthofix Medical

Orthofix Medical Inc operates as a spine and orthopedics company in the United States, Italy, Germany, the United Kingdom, France, Brazil, and internationally. It operates through two segments, Global Spine and Global Orthopedics. The Global Spine segment manufactures and distributes bone growth stimulator devices for enhance of bone fusion, including adjunctive and noninvasive treatment of cervical and lumbar spine, as well as a therapeutic treatment for non-spine; designs, develops, and markets a portfolio of motion preservation and fixation implant products, which are used in surgical procedures of the spine; and offers biological products, such as fiber-based and particulate demineralized bone matrices, cellular bone allografts, collagen ceramic matrices, and synthetic bone void fillers, and tissue forms, which allow physicians to treat various spinal and orthopedic conditions.